Executive Loan Officer I/II

Overview

To originate, process, and close first mortgage and equity mortgage loans for Navy Federal employees, Navy Federal Executives and Board Members, Volunteer Officials, and selected members.

Responsibilities

• Originates, processes, and closes first mortgage and equity loans for Navy Federal employees, Navy Federal Executives, Board members and other "high profile" members
• Counsels members regarding features and benefits of Navy Federal mortgage and equity loan programs and assists members in choosing loans that best fit their financing needs
• Works closely with members to meet qualifications for chosen loan programs
• Ensures that loans are in compliance with Federal laws and Navy Federal and NCUA regulations
• Interviews and counsels applicants; takes loan application and determines the applicant's qualifications
• Obtains documentation needed to complete the processing of the loan in a timely manner (e.g., verifications of employment and deposit, credit reports, appraisals)
• Follows up on unanswered requests for documentation
• Review all returned documents for accuracy and completeness and maintains up-to-date log on loan status
• Coordinates the information provided by the documents with the information obtained in the application (e.g., income, assets, and liabilities)
• Maintains contact with the member, Realtor, and/or seller on loan progress and requirements for additional necessary documentation
• Responds to inquiries and resolves problems regarding processing of the loan
• Maintains the confidentiality of each loan
• Reviews mortgage/equity loans for completeness, accuracy, and any additional information necessary to close the loan.
• Establishes and maintains communication with parties involved in process on behalf of member, resolves outstanding issues/concerns
• Orders and reviews title binder and survey for possible violations (e.g., encroachments, liens, easements)
• Obtains waivers of title defects to assure protection of member's and Navy Federal's interests
• Ensures that loans are in compliance with governing federal/state laws, as well as Navy Federal, NCUA and secondary marketing guidelines and regulations
• Prepares final applications for submission to the Underwriting staff (at Headquarters) and/or Federal Agency (VA) for approval
• Schedules settlement with closing agent, buyer, seller, and Realtor
• Establishes and maintains communication with parties involved in process on behalf of member
• Resolves any last minute obstacles to a successful closing by reviewing loan documents
• Follows standard course of action with limited discretion to vary form established policies, procedures and guideline
• Works under general supervision to harmonize processing functions
• Processes Government loan applications from initial application through conditional acceptance
• Researches/clarifies/resolves problems related to mortgage processing and loan documentation
• Ability to deal diplomatically with members, NFCU staff, management, and with professional/business contacts
• Performs other related duties as required or appropriate
• On-call during established evening hours after regular scheduled work assignments and during established hours on weekly scheduled days off (e.g., weekends and holidays).

• Knowledge of mortgage lending requirements, regulations and procedures for VA and conventional loan programs
• Experience that demonstrates knowledge & understanding processing & closing first mortgage and equity loans
• Ability to comprehend, analyze and explain multiple, complex loan programs, financing options and basic mathematic principles
• Ability to work effectively and efficiently with automated systems
• Knowledge of Personal Computers and word processing, spreadsheet, and database applications
• If selected, will be required, prior to the assumption of employment duties, to register with the Nationwide Mortgage Licensing System and Registry; includes fingerprinting and background checks
• Effective interpersonal, verbal and written communications skills

• Education above the high school level with course concentration in Business Administration or related area
• Familiarity with Navy Federal policies, procedures, products, and services